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IMPACT OF SOCIAL
RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE
CHAPTER ONE
INTRODUCTION
1.1 Background to
the Study
An organization may be profit oriented or non-profit
oriented. The fact remains that every organization is made up of four basic
resources (i.e. man, material, money and machinery) and its environment.
According to Weirich and Koontz (1987) management is a
process of designing and maintaining an environment in which individuals
working together in groups, efficiently accomplish selected aims. The term
‘environment’ in this definition refers to both internal and external
environment. All organization have a two point agenda to improve qualitative
(the management of people and processes) and quantitatively (the impact on
society). The second is as important as the first and stakeholders of every
organization are increasingly taking an interest in “the other circle” – the
activities of the organization and how these are impacting the environment and
society.
Social responsibility is an ethical ideology or theory that
an entity be it an organization or individual, has an obligation to act to
benefit society at large. Social responsibility is a duty every individual or
organization has to perform so as to maintain a balance between the economy and
the ecosystem. The term “corporate social responsibility” (CSR) came into
common use in the late 1960s and early 1970s after many multinational
corporations formed the term stakeholder meaning those on whom an
organization’s activities have an impact. It was used to describe corporate
owners beyond shareholders as a result of an influential book by R. Edward
Freeman, Strategic Management; a stakeholder approach in 1984. CSR is one of
the newest management strategies where organization’s try to crate positive
impact on society doing business.
Corporate social responsibility which is also known as
corporate citizenship, corporate responsibility or corporate social performance
is a form of corporate self-regulation which is integrated into a business
model. Corporate social responsibility tends to operate as a built-in, self-regulating
mechanism under which a business will monitor and ensure its compliance with
law, international norms and ethical prescriptions (Institute of Chartered
Accountants of Nigeria [ICAN], 2010). A business or organization assumes
responsibility for the impact of its activities on the environment. Thus, CSR
is a process with the aim to embrace responsibility for the organization’s
actions and encourage a positive impact through its activities on the
environment, consumers, employees, communities, stakeholders and all the
members of the public sphere who may also be considered as stakeholders
succinctly a business or organization ahs to proactively promote the interest
of the public through voluntarily avoiding activities which are harmful,
regardless of legality.
According to Business for Social Responsibility, Corporate
Social Responsibility (CSR) is defined as operating a business in a manner that
meets or exceeds the ethical, legal, commercial and public expectations that
society has of business. On the other hand, the European commission hedges its
bets with two definitions wrapped into one; CSR is a concept whereby companies
decide voluntarily to contribute to a better society and a cleaner environment.
A concept whereby organizations integrate social and environmental concerns in
their business operations and their interaction with their stakeholders on a
voluntarily basis. Each of these definition when reviewed broadly agree that
CSR now focuses on the impact of how you manage your core business. However
some go further than others in prescribing how far organizations beyond
managing their own impact into the terrain of acting specifically outside of
that focus to make of contribution to the achievement of broader societal
goals.
1.2 Statement of the
Problem
It is quite unfortunate that there is no clear-cut definition
of what corporate social responsibility (CSR) comprises. Every organization ahs
different CSR objectives, though the motive is the same. But it becomes more
complex and depicts a key difference, when many business managers (leaders)
feel that their organizations are ill-equipped to pursue broader societal
goals, and activists argue that organization have no democratic legitimacy to
take such roles.
Critics have argued that corporate social responsibility
distracts from the fundamental economic role of business, others argue that it
is nothing more than superficial window-dressing; others argue that it is an
attempt to pre-empt the role of government as a watching over powerful tricorp
corporations. Therefore, a trade off always exists between economic development
in the material sense, and the welfare of the society and environment. To
sustain he equilibrium between the two, the researcher deem it necessary to
assess the impact of social responsibility on organizational performance of
Ecobank Plc, Kadpoly branch, Kaduna.
1.3 Objectives of
the Study
i) To assess
the effect of social responsibility on organization’s productivity.
ii) To help
Ecobank Plc, Kadpoly – Kaduna sustain the equilibrium between corporate
economic development and the welfare of its environment and society.
iii) To
enumerate the benefits of corporate social responsibility on organizational
performance in the long run.
iv) To identify
the social responsibility efforts of individuals towards the success of
collective group of corporate social responsibility.
v) To
ascertain the ethical involvement and commitment of Ecobank Plc Kaduna in
social responsibility strategy and ideology.
vi) To assist
Ecobank with rational information on concept of responsibility to be imbibed in
its corporate organization’s activities.
vii) To bring to
limelight the use of ethical decision making strategy in securing
organization’s business/interest by making decisions that allow for government
agencies to minimize their involvement with the corporation.
viii) To also
assist preventing and condemning the use of social responsibility as a tool for
superficial window-dressing mechanism.
1.4 Statement of
Hypotheses
According to ICAN (2006), hypothesis is a statement of
logical guess, which reflects the possibility in the occurrence of an event
under investigation. In an attempt to reach a rational inference on the
research problems identified, the following hypotheses have been formulated:
H0: Effective and
efficient social responsibility strategy does not enhance the productivity
level of an organization.
H1: Effective and
efficient social responsibility strategy enhanced the productivity level of an
organization.
1.5 Significance of
the Study
The research work will help in bridging the gap between
corporate economic development of Ecobank Plc, Kaduna and the welfare of its
environment and society at large.
This study when applied will contribute immensely to
organizational performance of Ecobank Plc, Kaduna both in the short-run and
long-run.
This research work when applied appropriately will promote
and enhance the self-regulation strategy of social responsibility, thus reduce
government regulations and involvement in the business of organizations.
This study when fully adopted will be of great importance to
customers, society and environment in which Ecobank, Kadpoly Kaduna operates
since its social responsibility impact will influence the lives of these
customers and society positively.
This research project when fully implemented will find the
interstices of win/win solutions among organization’s stakeholders in a
mutually beneficial manner.
It is the researcher’s believe that at the end of this
research work, the findings, conclusion and recommendations arrived at will be
instrumental in the social responsibility policy of Ecobank Plc, Kaduna.
This study will also add to existing body of knowledge on the
subject matter, thus serve as a reference material or future studies on the
topic of discussion.
1.6 Scope of the
Study
This study encompasses the impact of social responsibility on
organizational performance with special reference to Ecobank Plc, Kadpoly
branch, Kaduna.
1.7 Limitation of
the Study
In the course of this research work, the researcher is faced
with the challenge of time-limit and financial inadequacy as major constraint
factor. But, to God almighty as his timely intervention provides a suitable
panacea and succor arrested the situation.
1.8 Historical
Background of Ecobank Plc, Kaduna
Ecobank Transnational Incorporated (ETI) a public limited
liability company was established as a bank holding company in 1985 under a
private sector initiative spearheaded by Federation of West African Chambers of
Commerce and Industry with the support of ECOWAS. In the early 1980s, the
banking industry in West Africa was dominated by foreign and state-owned banks.
There were hardly any commercial banks in West Africa owned and managed by the
African private sector. ETI was founded with the objective of filling this
vacuum.
The Federation of West African Chambers of Commerce promoted
and initiated a project for the creation of a private regional banking
institution in West Africa. In 1984, Ecorpromotions S.A. was incorporated. Its
founding shareholder raised the seed capital for feasibility studies and the
promotional activities leading to the creation of ETI.
In October 1985, ETI was incorporated with an authorized
capital of US$100 million. The initial paid up capital of US$32 million was
raised from over 1,500 individuals and institutions from West African
countries. The largest shareholder was the ECOWAS fund for Cooperation,
Compensation and Development (ECOWAS Fund), the development finance arm of
ECOWAS. A headquarters agreement was signed with the government of Togo in 1985
which granted ETI the status of an international organization with the rights
and privileges necessary for it to operate as a regional institution, including
the status of a non-resident financial institution. ETI commenced operations
with tis first subsidiary in Togo in March, 1988.
Mission and Vision
The dual objective of Ecobank Transnational Incorporated
(ETI) is to build a world-class pan-African bank and to contribute to the
economic and financial integration and development of the African continent.
The Ground Story
Today, Ecobank is the leading pan-African bank with
operations in 32 countries across the continent, more than any other bank in
the world, it currently operates in countries in West, Central, East and
Southern Africa namely Angola, Benin, Burkina Faso, Burundi, Cape verse,
Cameroon, Central African Republic, Chad, Congo Brazzaville, Democratic
Republic of Congo, Cote d’Ivoire, Equatorial Guinea, Gabon, Ghana, The Gambia,
Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda,
Sao Tome & Principe, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia
and Zimbabwe. The Group also has a licensed operation in Paris and
representative offices in Johannesburg, Dubai and London.
Ecobank Today
Ecobank is the leading pan African banking group in Africa
with a presence in more African countries than any other bank. In all the
markets in which we operate, we are recognized as one of the leading banks,
providing a full range of wholesale, retail, commercial, investment and transaction
banking services and products. To achieve thus, we have implemented an
international technology and Shared Services Centre in Accra to provide
standardized and automated transaction processing on a 24/7 basis to all
affiliates of the Ecobank Group. The centre also has an integrated telecoms
network which provides 24/7 connectivity, thus ensuring reliability of its
products and services. Our range of banking products and services to
individuals and corporate includes:
* Current Account * Personal loan * LCs and Bills for
Collections * Savings Account * Car and motor loan ** Transfer and payments *
Cards * Mortgages (Home Loan) * Foreign Exchange *Deposit Account * Business
Loan * Western Union
Our customers include governments and government agencies, multinational,
regional, multilateral and financial institutions, local companies and medium,
small and micro enterprises and consumers.
As a group, our strategy is to build scale through organic
growth and acquisitions; grow our businesses in existing markets and expand
into new markets, product and customer segments and, deliver improved
efficiency through operational and product excellence and superior customer
service. To achieve thus, we have established “One bank everywhere you go”
Ecobank operates as “One bank” with common brand, standards, policies and
processes, which means you get a consistent and reliable service across its
network of over 600 branches, offices and over 600 alliances locations.
Our objective is to create superior shareholder value in
2014. Above all, Ecobank enforces management standards and policies in the
areas of ethics, anti-money laundering, conflict of interest and corporate
governance. These policies and standards are periodically reviewed to reflect
local requirements and changes in international practices. Ecobank, today is
considered by customers and investors as the leading pan-African bank.
1.9 Definition of
Terms
Corporate Governance: Is defined as “the set of mechanisms
through which outside investors are protected from expropriation by insiders
(including management, family interests and/or governments)” (Nganga, Jain
& Artivor, 2003).
Corporate Social Responsibility: “Is the continuing
commitment by business to behave ethically and contribute to economic
development while improving the quality of life of the workforce and their
families as well as of the local community and society at large” (Home &
Watts, n.d).
Ethics: Are morale that delineates expectation for social
behaviour according to contemporary conventional norms within a society, social
class, group or organization.
Strategy: Is the act of mapping out best way of achieving an
objectives through calculated and systematic programme.
Window-Dressing: Also known as creative accounting or
cosmetic financial reporting is the situation/act of deliberately or
intentionally falsifying accounts with the views of overstating performance of
a business.
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